MIRA INFORM REPORT
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Report Date : |
19.02.2011 |
IDENTIFICATION DETAILS
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Name : |
BOKARA RUG CO INC |
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Registered Office : |
Jan Soleimani 276 |
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Country : |
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Date of Incorporation : |
12.07.1983 |
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Com. Reg. No.: |
854667 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Carpet & Rug-Distributors |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 130,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Bokara Rug Co Inc |
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Address in the order: |
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Legal Name: |
BOKARA RUG CO INC |
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Legal Address |
JAN Soleimani 276 |
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Operative Address |
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Telephone: |
+1 (201) 601-0040 |
Registration Number : |
854667 |
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Fax: |
+1 (201) 601-0055 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1975 |
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Manager: |
Jan Soleimani, Owner |
Date Incorporated: |
July 12th, 1983 |
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Staff: |
20 |
Stock: |
200 |
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Value: |
No par Value |
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Activity: |
Carpet & Rug-Distributors |
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BANKS
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Name of the Bank |
Red Bank NJ |
BUSINESS
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HISTORY |
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This company was created in the year 1975. |
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PRINCIPAL ACTIVITY |
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The company produces handmade rugs, carpets, full restoration and
cleaning service. |
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Products/Services description: |
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ANTIQUE MAHAL CANTEBURY COLLECTION ANTIQUE SERAPI CROWN QUALITY BAKSHAHESH COLLECTION |
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Sales are: |
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Wholesale, Retail |
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Clients: |
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Rug retailers and final customers with specific needs. |
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Operations area: |
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National, International |
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The company imports from |
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The company export to worldwide. |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at |
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Surface area: |
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60 000 square feet. |
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The property is: |
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Owned |
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Branches: |
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The company has the following branches: 42 Route 17 N. Paramus NJ 07652 |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The company is privately held, and has Jan Soleimani as the main
shareholder. |
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Management: |
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Jan Soleimani, Owner Atil Barehk, Finance Executive Patrick Pariz, Sales Executive |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted Atul who refused to provide us any financial data on
grounds of confidentiality. |
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However our financial sources could provide us with the following data
(estimates): |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
10,000,000 |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
3 400 000 |
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The cash flow is |
normal |
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Legal Fillings |
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There are 460 UCC files listed with the Secretary
of State of New York. There are no legal filings listed with the
District Court. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured
transaction by filing a public notice (financing statement) with a particular
filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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Local credit bureau gave a correct credit
rate. The company is in Good Standing. This means
that all local and federal taxes were paid on due date. |
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Final Opinion |
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The company has 35 years in the business. It has a staff of 20
employees which makes it a small sized company. The legal filing found on the previous report
got solved, du to the lack of documents requested. The revenue increased significantly for
the year 2010. Profitability is good, cash is normal and
payments are regular. A credit line may be considered for USD
130,000 |
SUMMARY
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Profitability |
GOOD |
Public Records |
YES |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person Interviewed |
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Atul |
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Position |
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Representative |
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Comments |
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He refused to provide us with any information about the company. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.18 |
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1 |
Rs.73.04 |
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Euro |
1 |
Rs.61.43 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.